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Friday, 17 January 2014 12:40

New Investment Projects

The Ministry of Development, Infrastructure, Transport and Networks approved the subsidies of the Manager of the Hellenic Gas Transmission System Operator S.A. (DESFA) amounting to 55.7 million euros.

The amount relates to funding four major projects to upgrade the national gas system.

It is about the gas compressor station in New Mesimvria, the high compression gas pipeline to Aliveri, the cogeneration station of electricity and heat - at Revithoussa and the high pressure gas pipeline at Saints Theodore - Megalopolis.

For the high compression gas pipeline Saints Theodore - Megalopolis, which is under construction, the allotment amount 7,349,404.04 EUR was approved, the amount 3,494,894.67 EUR was approved for the cogeneration of electricity - heat at Revythoussa, the amount 23,449,169.67 EUR was approved for the high compression gas pipeline to Aliveri and the amount of 21,393,383.19 EUR was approved for the gas compressor station in New Mesimvria Thessaloniki.

The funds of 55.7 million are expected to act as liquidity injection for the energy market, enhancing the capital of DESFA at a time when DEPA is often forced to raise liquidity from its subsidiary to service its financial obligations to third parties. One more liquidity injection to the energy market is expected through the repayment of outstanding debt by the State for electricity bills to the PPC, of about 170 million EUR.


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